Neo Ivy Capital Management bought a new stake in shares of The Boeing Company (NYSE:BA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 24,528 shares of the aircraft producer's stock, valued at approximately $4,183,000. Boeing accounts for 1.3% of Neo Ivy Capital Management's portfolio, making the stock its 6th biggest holding.
Several other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Boeing by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 15,171,869 shares of the aircraft producer's stock worth $2,677,170,000 after purchasing an additional 3,452,075 shares during the period. Castlekeep Investment Advisors LLC bought a new position in Boeing in the fourth quarter worth about $568,000. Alyeska Investment Group L.P. purchased a new stake in Boeing in the fourth quarter worth about $526,889,000. Zimmer Partners LP bought a new stake in Boeing during the 4th quarter valued at approximately $393,736,000. Finally, Northern Trust Corp grew its holdings in shares of Boeing by 33.6% during the 4th quarter. Northern Trust Corp now owns 6,504,610 shares of the aircraft producer's stock worth $1,151,316,000 after acquiring an additional 1,634,231 shares during the period. 64.82% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In related news, EVP David Christopher Raymond sold 3,899 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $187.01, for a total transaction of $729,151.99. Following the completion of the transaction, the executive vice president owned 42,513 shares of the company's stock, valued at $7,950,356.13. This trade represents a 8.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Brendan J. Nelson sold 640 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $206.28, for a total transaction of $132,019.20. Following the completion of the sale, the senior vice president directly owned 13,258 shares in the company, valued at approximately $2,734,860.24. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,744 shares of company stock valued at $1,511,370. Insiders own 0.09% of the company's stock.
Boeing Stock Up 1.0%
Shares of Boeing stock traded up $2.25 on Monday, reaching $235.31. The stock had a trading volume of 3,234,091 shares, compared to its average volume of 8,513,112. The Boeing Company has a 1 year low of $128.88 and a 1 year high of $235.65. The company has a 50 day moving average price of $213.01 and a 200 day moving average price of $186.96. The stock has a market capitalization of $177.43 billion, a P/E ratio of -13.13 and a beta of 1.41.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on BA shares. Redburn Atlantic raised Boeing from a "hold" rating to a "strong-buy" rating and raised their price objective for the company from $180.00 to $275.00 in a research report on Friday, June 27th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Boeing in a research note on Monday, July 14th. Citigroup raised their price objective on shares of Boeing from $220.00 to $270.00 and gave the company a "buy" rating in a research note on Monday, July 14th. Rothschild & Co Redburn raised Boeing from a "neutral" rating to a "buy" rating and set a $275.00 price objective on the stock in a research report on Friday, June 27th. Finally, Morgan Stanley lifted their price objective on Boeing from $200.00 to $235.00 and gave the stock an "equal weight" rating in a report on Thursday, July 17th. Four research analysts have rated the stock with a sell rating, three have given a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $221.55.
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Boeing Profile
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The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.
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